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The NEV (new energy vehicles) credit scheme encourages #Chinese auto manufacturers to improve the fuel efficiency of internal combustion cars and promote the production of electric vehicles.

“We remain cautious that policy will immediately translate to Chinese consumer uptake, but in conjunction with the slower ramp of new entrants, we see a supply deficit extending to the early 2020s,” #Macquarie said.

The analysts said demand drivers for #Lithium and #Cobalt, such as Chinese Government policy and commitments to build more electric vehicles from the big car manufacturers, were firming. “Meanwhile, new supply from both incumbents and new hopefuls is taking longer than expected to eventuate and the time scale of a deficit looks likely to extend,” they said.

Read more at: https://thewest.com.au/business/mining/macquarie-stumbles-with-backflip-on-lithium-outlook-ng-b88512864z